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Gerald Celente – BoomBust

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1 comment to Gerald Celente – BoomBust

  • anon

    The most interesting part of this broadcast was the guest, Richard Wolf, visiting professor at The New(?) School and expert in Marxist economics: (from 19:45 to 21:35)

    “Since the 1970’s Capitalists – big corporate capitalists – have been moving out of Western Europe and out of N. America to India, to China, to Brazil. They go there for no mysterious reason(s) – they go there because the wages are much lower; because those societies are poorer and desperate for jobs; because they will not impose high taxes; (because) they will not have heavy regulation; they are a capitalists’ dream, and so, the capitalists, having made a lot of money over the last 200 years in W. Europe and N. America are basically saying “Hasta la vista [“See ‘ya later”] baby!” and “we’re going, for the same reason we’ve done everything – PROFITS – to another part of the world, and we’re leaving you to FIGHT OVER WHAT IS LEFT.”

    He goes on to say: “And that is what is going on. The rich are trying to hold on to what they have , but in a declining situation, that’s very bad news for the middle class and the poor who are discovering that they are in a long-term period of decline.
    My own judgement is – as they get clearer about what is happening they are going to be (and I am talking about the middle class, and the bottom, who are the overwhelming majority everywhere) – they are going to be LESS AND LESS WILLING to continue to live in societies that are becoming more and more polarized between a small group of rich ‘holding on’ [to vast wealth] and making profits off the low wages in the Third World (as we used to call it) and the masses of the people…which means the kinds of tensions you see in Greece are the kinds of tensions that are building everywhere else. We are in for (as polite as I know how to be) a VERY BUMPY ECONOMIC RIDE in the months and years ahead.”

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